Have you ever thought about what it would take to go to the Moon, Mars, or other destinations in the cosmos? Doing so is an astonishing feat of ingenuity and the companies that take part in the process often earn a significant amount of money in exchange for their innovation.
That’s where Intuitive Machines (Nasdaq: LUNR) comes in. The company has been at the helm of 27 space exploration inventions to date and its innovation continues. Moreover, investing in the company can generate significant returns. At least one analyst expects the stock to grow by 61% over the next year or so.
Key Points:
- Intuitive Machines is a space exploration company with significant upside potential.
- Analysts at B. Riley suggest the stock may climb by about 61% in the year ahead.
- Intuitive Machines is liked among analysts who offer a consensus rating of “Buy” on the stock.
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What Is Intuitive Machines?
As mentioned above, Intuitive Machines is a space exploration technology company that has been at the center of multiple inventions. The company’s products span several categories, including:
- Lunar Access: The company has developed robots and other products to help place items on the moon.
- Lunar Data: This involves setting up command centers and maintaining a secure network for data during space missions.
- Space Systems: This arm of the business includes the development of space infrastructure as well as other products and services to help those going to space, or sending tech to space, complete their missions effectively.
- Orbital Services: The company is developing orbital services that will make it possible to repair, refuel, and lift the orbit of existing satellites.
A Huge Contract Sets the Stage for Growth
It’s one thing to have products and services that drive interest, but it’s another to drive revenue. The good news for Intuitive Machines and its investors is it has proven the latter. In fact, the company recently signed a huge contract that could generate $4.82 billion in revenue over the next 10 years.
The contract is between Intuitive Machines and NASA. As part of the agreement, Intuitive Machines will work on a Near Space Network by deploying lunar relay satellites. The company will also provide communication and navigation services that will help NASA establish a long-term footprint on the moon.
What Does Wall Street Think?
Wall Street analysts have a relatively positive opinion of Intuitive Machines. Five analysts have weighed in, giving the stock an average “Buy” rating. Among them, the average price target is $10.60 with the high target in that average being $12. That opinion is held by B. Riley, a firm that reiterated its “Buy” rating on the stock and boosted its price target from $8 to $12 on September 19, 2024. Should the stock climb from its current price of $7.44 to $12 per share, it will represent a gain of $4.56 per share or about 61%.
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